Nike has launched a new web3-enabled platform for the brand’s virtual designs and digital community, called Swoosh.
With an experience powered by blockchain technology offering inclusive, equitable place for athletes, creators, collectors and consumers to design and own the future of sports, Swoosh has its own domain, welcome.swoosh.nike, where users can create, develop ad potentially earn royalties from interactive digital objects like virtual shoes and so on.
Currently Swoosh is in beta-mode, the registration on the domain opens in November with the launch of a first digital collection, shaped by its members, to debut in 2023.
The opportunities for sportswear and fashion in the digital realm are expected to be new revenue channels, despite the fluctuating value of NFTs and digital clothing, where much is driven by hype.
Ron Faris, GM of Nike Virtual Studios said, “We are shaping a marketplace of the future with an accessible platform for the web3-curious. In this new space, the swoosh community and Nike can create, share and benefit together.”
With the acquisition of RTFKT last year, Nike has proved to be a leader in blockchain technology and digital sportswear in metaverse for some time now.
For this, Nike is keen to cement its presence in web3 by staying at the forefront of where culture and gaming are merging.
Digital innovation has earned Nike the position as the world’s leading sporting company, from the NikeID it launched in the 1990s to its wearable tech, digital fit solutions and exploring the metaverse with NFT and co-created products.